Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities      
Net income (loss) $ 45,703 $ 51,216  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Provision for loss on receivables 621 505  
Depreciation and amortization 987 894  
Amortization of financing costs 2,716 3,354  
Equity-based compensation 3,540 5,499  
Equity method investments (38,564) (43,231)  
Non-cash gain on securitization (4,532) (6,751)  
(Gain) loss on sale of receivables and investments 29 (1,227)  
Changes in receivables held-for-sale (43,482) (23,574)  
Changes in accounts payable and accrued expenses 11,709 1,145  
Change in accrued interest on receivables and investments (2,925) (718)  
Other (7,745) (5,291)  
Net cash provided by (used in) operating activities (31,943) (18,179)  
Cash flows from investing activities      
Equity method investments (78,717) (52,862)  
Equity method investment distributions received 4,217 0  
Proceeds from sales of equity method investments 1,700 0  
Purchases of and investments in receivables (35,018) (96,389)  
Principal collections from receivables 19,850 25,998  
Proceeds from sales of receivables 0 36,370  
Purchases of real estate (4,550) 0  
Purchases of investments 0 (4,830)  
Proceeds from sales of investments and securitization assets 0 7,335  
Funding of escrow accounts 0 (11,851)  
Withdrawal from escrow accounts 0 1,126  
Other (2,975) 98  
Net cash provided by (used in) investing activities (95,493) (95,005)  
Cash flows from financing activities      
Principal payments on credit facilities 0 (3,041)  
Proceeds from issuance of commercial paper notes 25,000 0  
Principal payments on non-recourse debt (5,577) (4,830)  
Net proceeds of common stock issuances 50,011 102,867  
Payments of dividends and distributions (31,810) (27,690)  
Withholdings on employee share vesting (2,211) (10,388)  
Payment of financing costs (3,421) (1,017)  
Other (461) (10)  
Net cash provided by (used in) financing activities 31,531 55,891  
Increase (decrease) in cash, cash equivalents, and restricted cash (95,905) (57,293)  
Cash, cash equivalents, and restricted cash at beginning of period 251,073 310,331 $ 310,331
Cash, cash equivalents, and restricted cash at end of period 155,168 253,038 $ 251,073
Interest paid 13,145 30,018  
Supplemental disclosure of non-cash activity      
Residual assets retained from securitization transactions 4,532 14,816  
Issuance of common stock from conversion of convertible notes 7,674 0  
Deconsolidation of non-recourse debt 0 126,139  
Deconsolidation of assets pledged for non-recourse debt $ 0 $ 130,513